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Gold, silver rebound as weak rupee, global rally revive bullion demand

New Delhi, Jun 22 (PTI) Precious metals staged a recovery in the national capital on Monday, with gold rising Rs 1,700 to Rs 1.52 lakh per 10 grams, while silver rebounded by Rs 4,800, driven by gains in global markets and depreciation in the rupee. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity ended its four-day losing streak and ended at Rs 1,52,300 per 10 grams (inclusive of all taxes), climbing Rs 1,700 from Friday’s closing level of Rs 1,50,600 per 10 grams. Silver also jumped Rs 4,800 to Rs 2,45,500 per kilogram

Inflationary pressures, reduction in discretionary cash flows may impact collection of MFIs: Report

New Delhi, Jun 22 (PTI) Risks such as potential inflationary pressures or reduction in discretionary household cash flows are likely to affect repayment behaviour of microfinance borrowers, even though the West Asia conflict has not directly affected the sector, a Crisil report said. Moreover, the impact of the El Nino phenomenon on rural incomes will bear watching, the report said. States such as Karnataka, Tamil Nadu and Bihar have introduced legislations for tighter oversight on unregulated microfinance lending practices, including enhanced borrower protection norms, restrictions on recovery practices and stricter compliance guidelines, it said. According to the report, Karnataka saw

Stock markets end higher on softening oil prices, supportive global cues

Mumbai, Jun 22 (PTI) Stock markets rebounded on Monday with the benchmark Sensex gaining 291 points following a decline in crude oil prices and supportive global cues amid hopes of diplomatic progress in US-Iran talks. The 30-share BSE Sensex climbed 291.17 points, or 0.38 per cent, to settle at 77,094.07. During the day, it jumped 522.66 points, or 0.68 per cent, to 77,325.56. The 50-share NSE Nifty surged 89.80 points, or 0.37 per cent, to end at 24,102.90. Fresh foreign fund inflows and buying in blue-chips Reliance Industries and HDFC Bank aided the recovery, according to analysts. Among Sensex shares,

Rupee falls 34 paise to close at 94.67 against US dollar

Mumbai, Jun 22 (PTI) The rupee depreciated 34 paise to close at 94.67 (provisional) against the US dollar on Monday, weighed down by the strength of the American currency in the overseas market. Forex traders said the rupee witnessed volatility as steady debt and deposit inflows pulled the domestic currency in one way, while the lack of clarity on the Middle East peace deal and a firm dollar pulled it the other way. At the interbank foreign exchange market, the rupee opened at 94.42, registering a decline of 9 paise from its previous close. In intraday trade, the rupee traded

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